Iberdrola contacts

Interest by Iberdrola, Spain’s second-biggest energy company, in the Greek market was confirmed yesterday by meetings of CEO Ignacio Sanchez Galan with senior officials in Athens. Sources say that besides the officially announced meetings Galan had with Development Minister Dimitris Sioufas, he also met with the president of Hellenic Petroleum (HELPE), Timos Christodoulou, with whom he reportedly discussed the possibility of a joint bid in the tender of the Electric Power Transmission System Operator (DESMHE) for the new private power-producing units. In the past, the Spanish company has officially made it known it is interested in electricity production from big units. Similarly, the HELPE board has repeatedly stated it is open to partnerships for investment in electricity production. This cooperation could in its first stages refer to joint participation in the tender for the 900 megawatt plants expected within this month, and in a second stage to Iberdrola’s involvement in the 400MW HELPE unit in Thessaloniki. Should negotiations end in agreement, a very strong venture would be created that could garner an important position in this market. Iberdrola is already active in the Greek market through Rokas SA, owning 49.9 percent of it. The Spanish firm has been strategically eyeing the Greek energy market and is said to be negotiating the construction of wind parks with the Public Power Corporation (PPC). Sioufas reportedly briefed Galan on the new framework in preparation for Greece’s renewable energy sources and on the liberalization of the natural gas market.

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